JPMorgan Chase & Co. Lowers Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

JPMorgan Chase & Co. decreased its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,148,405 shares of the biotechnology company’s stock after selling 167,300 shares during the quarter. JPMorgan Chase & Co.’s holdings in Arrowhead Pharmaceuticals were worth $41,615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in Arrowhead Pharmaceuticals by 3.7% in the second quarter. Commonwealth Equity Services LLC now owns 34,663 shares of the biotechnology company’s stock valued at $901,000 after purchasing an additional 1,250 shares during the period. Rhumbline Advisers grew its position in Arrowhead Pharmaceuticals by 2.9% during the second quarter. Rhumbline Advisers now owns 383,029 shares of the biotechnology company’s stock valued at $9,955,000 after acquiring an additional 10,924 shares during the period. TD Asset Management Inc grew its position in Arrowhead Pharmaceuticals by 90.8% during the second quarter. TD Asset Management Inc now owns 54,200 shares of the biotechnology company’s stock valued at $1,409,000 after acquiring an additional 25,800 shares during the period. Victory Capital Management Inc. increased its stake in Arrowhead Pharmaceuticals by 67.3% during the second quarter. Victory Capital Management Inc. now owns 41,090 shares of the biotechnology company’s stock worth $1,068,000 after acquiring an additional 16,534 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Arrowhead Pharmaceuticals by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after purchasing an additional 821 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ARWR shares. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Friday, December 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Citigroup decreased their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein cut their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Finally, Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $19.79 on Monday. The stock’s 50 day moving average is $21.05 and its two-hundred day moving average is $22.64. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $17.05 and a 52-week high of $39.83. The company has a market capitalization of $2.46 billion, a PE ratio of -3.94 and a beta of 0.97. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 26,712 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $21.24, for a total transaction of $567,362.88. Following the transaction, the chief executive officer now owns 3,688,335 shares of the company’s stock, valued at $78,340,235.40. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William D. Waddill sold 3,748 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the transaction, the director now owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. The trade was a 7.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,873 shares of company stock valued at $952,553. 4.50% of the stock is currently owned by corporate insiders.

Arrowhead Pharmaceuticals Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.